Biopsy Devices Market Overview:
“The global biopsy devices market was valued at 2.74 billion in 2023 and is projected to reach 4.15 billion by 2030, growing at a CAGR of 7.3% till 2023-2030.”
To assess the severity or extent of a condition, usually cancerous and inflammatory diseases the organ is removed surgically during the procedure of a biopsy. The procedure is usually performed by radiologists, surgeons, as well as interventional cardiologists. All organs could be biopsied with specific equipment to biopsy it to confirm the presence of malignancy or celiac disease.
Different tools for biopsy are used according to the type of organ that is being examined. New imaging techniques like MRI guided biopsy, Stereotactic guided Biopsy Ultrasound biopsy guided by CT scan, as well as other options, are used alongside traditional biopsy techniques to do a biopsy with precision and minimal impact.
The growing elderly population and the advancement of low-cost, high-tech technology is predicted to boost the expansion of market demand for instruments for biopsy. The demand for minimally invasive medical procedures has grown because of their numerous advantages. These techniques result in faster and less painful recovery for patients. Minimally invasive procedures quickly replace more invasive ones, according to manufacturer-published research, and boost patient satisfaction.
The market is predicted to grow because of a growing need for disposable biopsies as well as low-risk procedures. Healthcare providers and patients are increasingly utilizing vacuum-assisted devices as well as other advanced biopsy-guided technology. The desire for minimally invasive procedures, the rise in the number of cancer cases worldwide and a variety of government initiatives to improve diagnosis are all contributing to the rapid growth of the market for biopsy instruments.
Skin, breast, and prostate cancers have all been diagnosed extensively using biopsies. These are among the most commonly used methods to diagnose cancer-related illnesses. In 2020, there could be 15 million more cancer cases, which is which is a further increase of 50% in cancer incidences as per the World Cancer Report. In the end, the market is expected to expand over the forecast period because of the increasing incidence of cancer and advances in biopsy technology. Therefore, demand for biopsy instruments is increasing due to the advancements in biopsy treatment.
Demand Outlook:
The rapid growth of this market is due to the rising rate of cancer as well as favorable reimbursement policies and a shift to minimally invasive procedures. The growing number of patients is leading to the creation of more sophisticated, efficient and safe biopsy procedures.
As per the World Health Organization (WHO) Cancer was responsible for close to 10 million deaths by 2020. The growing prevalence of a variety of types of cancer, including the breast cancer and lung cancer and leukemia, is impacting demand forecasts for biopsy instruments.
Different initiatives taken by government and health care organizations in relation to the treatment and diagnosis of cancer are expected to boost market's growth over the forecast time. In addition, the increasing cost of healthcare and massive R&D (R&D) actions have positively impacted the market.
Rapid technological advances like vacuum-assisted guns 3D optical biopsies Biopsies that are MRI-targeted, as well as ultrasound-guided biopsies as well as the use of ultrasound,are increasing the demand for biopsy machines. Since biopsy procedures can be carried out on almost every organ, with a precise diagnosis, more patients are choosing to use biopsy procedures.
The leading companies in the field of biopsy devices are focused upon organic strategies for growth like product launches and approvals for products. They've adopted a variety of strategies, including mergers and acquisitions, innovative product development and collaborations, in order to increase their competitive advantage on the market.
In 2021, for instance, Biocept Inc. announced a partnership in 2021 with Quest Diagnostics to provide lab testing services to patients at Quest in its targeted Selector NGS liquid biopsy lung cancer screening panel.
Similar to that, in October 2020 GE Healthcare announced the launch of its brand new Serena Bright biopsies across the USA The Serena Bright biopsy technology is specially designed to provide the most advanced and advanced breast cancer detection and treatments.
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Market Dynamics & Trends
The market for biopsy devices in the world's development is driven by growing prevalence of various kinds of cancers around the world. Growing demand for prompt Biopsy Sorts of different cancers to prevent the death of a patient, and the technological advancements of medical infrastructure is also driving the growth of the global market.
The rising demand for procedures that are minimally invasive will propel the market growth
The need for minimally invasive biopsies procedures is increasing at a increasing rates on the industry. The various types of technologies and products, including needle-based biopsy guns, as well as vacuum-assisted instruments are predicted to experience a rapid growth in the coming years.
Additionally, the increasing awareness about breast cancer or Biopsy Type could aid the growth of the market for biopsy devices over the next forecast period. There are numerous nations that have programs for an early Biopsy type of cancer in breasts. This can boost the use of biopsy devices, thus improving the growth of the market for biopsy devices over the next few years. Biopsy is one of the main Biopsy Techniques for treating cancer and is extensively utilized for the Biopsy type of skin, breast, or prostate cancer. As per the World Cancer Report, cancer rates are expected to increase by 50%, resulting in 15, million additional cases before the year 2020. Thus, due to the growing rate of cancer-related cases and advancements in biopsy instruments that are being developed, the market is predicted to expand over the forecast timeframe. With the increasing number of government initiatives to stop from the spreading of cancer and the adoption of modernized healthcare infrastructure is helping to boost growth in this market over the coming years.
Risks associated with the biopsy process could hinder the expansion of markets
Biopsies are subject to a slight possibility of infection and bleeding. Needle biopsy has a small chance of infection and bleeding in the area at which the needle was placed. A mild amount of pain is expected following needle biopsy, however, it is typically controlled by prescription painkillers. These issues are hindering the expansion of the market over the coming years.
Challenges
In the next ten years the use of liquid biopsy is likely to pose a serious danger to the business of biopsy devices.
Liquid biopsy provides non-invasive diagnostic tests to detect cancer. It provides an easy and cheaper urine, blood or plasma test to identify malignancy within any area of the body of the patient.
Liquid biopsy can give a more accurate specimen for any analysis or diagnosis because it is able to be repeated. This can eliminate the problems of repeated tissues.
Liquid samples allow for the detection of diseases in real time as well as predict outcomes, alter treatments when needed and could prolong the life for the individual. Therefore the procedure of taking liquid biopsy could pose an important obstacle to the growth of the business of biopsy devices over the next decade.
Biopsy Devices Market Segment Analysis:
Based on the type of product, technology and application, as well as the end-user and geographic location, the world market for devices for biopsy is classified into these segments.
Biopsy devices are further divided in Core Needle Biopsy Aspiration Biopsy, Vacuum Assisted Biopsy, Biopsy Forceps, and Localization Wires in accordance with the items they are used for. When a core needle biopsy is performed the tissue is collected using the long hollow tube. A breast mass that appears suspicious is biopsy'd. Pathologists are doctors who analyze and assess the tissue in a laboratory.
They are experts in the study of the body's tissues and blood. Vacuum-assisted biopsies are a method that involves removing a tiny amount of tissue is taken out of the breast. A device for imaging can be utilized for guiding a probe attached to the vacuum device. The probe is introduced through a small cut in the skin that is numbed on the breast. In oesophagoscopy or laryngoscopy procedures, samples of tissue are taken using forceps for biopsy.
They can also be used to remove foreign objects from the nasal cavity and aural. They are constructed of surgical steel and come with the cup jaw, which gives the patient with a firm grip. A method used to locate an isolated area of unnatural tissue, so that it can remove surgically. The abnormal area is identified by inserting a tiny wire that has a hook on the end of an open needle with the help of an imaging tool.
The techniques that make use of biopsy instruments include MRI guided Biopsy Stereotactic guided Biopsy Ultrasound guided Biopsy along with CT scan. A procedure wherein the MRI scan is utilized to determine an abnormality within the prostate or breast and then utilizes this information to guide the removal of a tissue sample from that region. The tissue specimen is examined under the microscope to determine if there are signs of disease, like cancer.
When performing a stereotactic biopsy procedure, the needle will be directed to an anomaly that is visible in mammography by the use of computers. If you look at the breasts of your doctor of primary care conduct a medical exam, the anomaly is usually not visible.
A biopsy method that utilizes ultrasonic imaging in order to pinpoint the area of tissue that is abnormal and then direct it's elimination for microscopic examination. CT scans can be utilized to identify damage or disease throughout the body's various organs. For instance, CT has developed into an effective screening instrument to identify the possibility of tumors or lesions forming in the abdomen.
The following subsegments comprise this segment. Gynecological prostate, breast kidney, lung and prostate biopsies are a variety of biopsies. Because of the increasing rate of breast cancer as well as increasing awareness about the disease the breast biopsy is responsible for the most market percentage.
The procedure of a lung biopsy in which samples of lung tissue are removed (during surgery or by using the use of a biopsy needle) to test for any signs of diseases or cancer. A closed or open procedure is used to obtain the lung biopsy. When a kidney biopsy is performed it is possible to remove a tiny amount of the tissue from the kidneys is removed in order that it can be examined under a microscope to find signs of ailment or injury. Diagnostic devices are classified into centers, imaging centers, and hospitals based on the type of biopsy.
Competitive Landscape of the Biopsy Devices Market
- Argon Medical Devices Inc.
- Braun Melsungen AG
- Becton Dickinson and Company
- Boston Scientific Corporation
- Cardinal Health
- Cook Medical Inc.
- Danaher Corporation
- Fujifilm Holdings Corp.
- Hologic Inc.
- Medtronic plc.
- Olympus Corporation
Recent Development in Biopsy Devices Market
- 24 February 2023: Olympus Acquired Korean Gastrointestinal Stent Company Taewoong Medical Co., Ltd. to make people’s lives healthier, safer, and more fulfilling.
- 23 April 2020: Olympus Corporation launched EVIS X1, its most advanced endoscopy system developed aiming to improve outcomes from disorders of the stomach, colon, as well as from bronchial diseases, by providing every endoscopist with innovative and proven tools.
Regional Insights:
North America dominates the largest market for biopsy devices. Over 39% of the market revenues were derived out of North America. Because of the regional firms, the region is likely to continue to enjoy an impressive market share between 2023-2030. Furthermore, it is anticipated that the market for biopsies in this region will benefit from the rapidly growing market for disposable equipment as well as the high penetration rates of modern technology. In addition for this region, in the North America region, Point-of-care tools to aid in rapid and safe detection of illness are widely accepted because of the growing prevalence of infections. Because of its established health system, as well as its sophisticated co-payment and insurance systems and co-payment systems, the North American area dominates the sector.
Segments Covered in the Biopsy Devices Market
Biopsy Devices Market by Product
- Core Needle Biopsy
- Aspiration Biopsy
- Vacuum Assisted Biopsy
- Biopsy Forceps
- Localization Wires
Biopsy Devices Market by Technology
- MRI Guided Biopsy
- Stereotactic Guided Biopsy
- Ultrasound Guided Biopsy
- CT Scan
Biopsy Devices Market by Application
- Breast Biopsy
- Lung Biopsy
- Prostate Biopsy
- Kidney Biopsy
- Gynecological Biopsy
Biopsy Devices Market by End-User
- Diagnostic
- Imaging Centers
- Hospitals
Biopsy Devices Market by Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Frequently asked questions with answers
What is the worth of the global biopsy devices market?
The global biopsy devices market was valued at 2.74 billion in 2023 and is projected to reach 4.15 billion by 2030, growing at a CAGR of 7.3% till 2023-2030.
Which market segments are covered in the report on the biopsy devices market?
Based on product, technology, application end-user, and region the biopsy devices market reports divisions are broken down.
What is the CAGR of the biopsy devices market?
The global biopsy devices market registered a CAGR of 6.9% from 2023-2030. The industry segment was the highest revenue contributor to the market.
Which are the top companies to hold the market share in the biopsy devices market?
Key players profiled in the report include Argon Medical Devices, Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Boston Scientific Corporation, Cardinal Health, Cook Medical, Inc., Danaher Corporation, Fujifilm Holdings Corp., Hologic, Inc., Medtronic plc., Olympus Corporation, and others.
Which is the largest regional market for biopsy devices market?
North America dominates the largest market for biopsy devices market. More than 39% of market revenues came from North America. Due to the existing regional companies, the area will probably continue to hold a sizable market share from 2022 to 2029.
